FREEHOLDS AND LEASE HOLDS. the said A. B., C. D., and E. F., and every of them, their and every of their heirs, executors, and administrators, and all and every other persons and person whomsoever, having, or lawfully or equitably claiming, or who shall or may have or lawfully or equitably claim any estate, right, title, or interest of, in, or to the said hereditaments and premises hereinbefore released and assigned respectively, or expressed and intended so to be, or any of them, or any part or parts thereof, shall and will, from time to time and at all times hereafter, upon the request of the said G. H., his heirs, executors, administrators, or assigns, but at the costs and charges of the said A. B., his heirs, executors, or administrators, make, do, and execute, or cause and procure to be made, done, and executed, all and every such further and other lawful acts, deeds, matters, things, conveyances, and assurances in the law whatsoever, for the further, better, more perfectly and absolutely granting, conveying, and assuring all the said hereditaments and premises hereinbefore granted and released, or expressed and intended so to be, unto and to the use of the said G. H., his heirs and assigns, and assigning and assuring the said hereditaments and premises hereinbefore assigned, or expressed and intended so to be, unto the said G. H., his executors, administrators, and assigns, in manner aforesaid, and according to the true intent and meaning of these presents, as by the said G. H., his heirs, executors, administrators, or assigns, or his or their counsel in the law, shall be reasonably devised, or advised and required; AND ALSO THAT he for payment the said A. B., his executors or administrators, shall and will from time to time and at all times, so long as the said principal sum of £1,000 and the interest thereon, or any part thereof, shall remain due or owing on the security of these presents, pay, observe, and perform, or cause to be paid, observed, and performed, as well all and singular the rents, covenants, and agreements in and by the said indenture of the 8th day of August, 1809, reserved and contained, and on the part of the lessees, their executors, administrators, and assigns, to be paid, observed, and performed, as all and singular the rents, covenants, and agree of rents and performance of covenants. FREEHOLDS AND LEASE HOLDS. -and indemnifying the mortgagee. -that mort cure renewed leases. ments, which shall in and by any lease or leases, to be at any time or times hereafter granted of the said hereditaments and premises comprised in the same indenture, be reserved and contained, and on the part of the lessee or lessees to be named therein, to be paid, observed, and performed: AND ALSO shall and will save, defend, and keep harmless and indemnified the said G. H., his executors, administrators, and assigns, and every of them, of, from, and against all actions, suits, proceedings, costs, charges, damages, and expenses whatsoever, (if any), which shall or may be incurred or sustained by reason or on account of the non-payment or non-performance of the same respectively, or any act, matter, or thing whatsoever, touching or concerning the same respectively, in anywise howsoever : AND ALSO THAT he the said A. B., his executors or admingagor will pro istrators, shall and will from time to time during so long as the said principal sum of £1,000, or any interest for the same, or any part thereof respectively, shall remain due or owing on the security of these presents, at his or their proper costs and charges, procure the present lease and any renewed lease or leases which may hereafter be obtained of the said hereditaments and premises hereinbefore assigned, or expressed and intended so to be, to be renewed for a further term of forty years, pursuant to the covenant for renewal contained in the said indenture of the 8th day of August, 1809, or to be contained in any future lease of the same premises, (he the said G. H., his executors, administrators, or assigns, doing or joining in doing all such reasonable acts as may be necessary or expedient for the procuring of such renewal or renewals): AND ALSO THAT he the said A. B., his executors or administrators, shall and will immediately upon every such renewal well and effectually assign and assure the hereditaments and premises comprised in such renewed lease or leases unto the said G. H., his executors, administrators, and assigns, or to such other person or persons as he or they shall direct or appoint, for all such term or terms of years as shall be granted by any such renewed lease or leases respectively, but subject nevertheless to such right or equity of redemption as shall or -and subject them to the mortgage. may be then subsisting in the said hereditaments and premises, under or by virtue of these presents: AND THAT, if the said A. B., his executors, administrators, or assigns, shall neglect or refuse to renew such lease or leases as aforesaid, and to pay the fines, fees, and other charges and expenses incident to and payable upon the renewal thereof, then, and so often as it shall so happen, it shall be lawful for the said G. H., his executors, administrators, or assigns, to renew such lease or leases in his or their own name or names, or in the name or names of such other person or persons as he or they shall appoint, and in that case all and every such new lease or leases, and the premises thereby to be demised, shall stand, remain, and be a security to the said G. H., his executors, administrators, or assigns, as well for the payment of all and every such sum and sums of money as shall be advanced and paid by him, them, or any of them, for the fines, fees, charges, and expenses of every such renewal, with interest for the same at the rate aforesaid from the time of his or their advancing or paying the same respectively, as for the payment of the said principal sum of £1,000, and the interest thereon, or such part thereof respectively as shall then remain due or owing on the security of these presents: PROVIDED ALWAYS that the amount of the money secured by these presents, or to be ultimately recoverable thereupon, shall not exceed the sum of £(ƒ): PROVIDED ALWAYS, and it is hereby agreed (ƒ) A covenant from the mortgagor, that he will duly renew the lease, should always be inserted in mortgages of this description; for the mortgagee has no right, independent of special stipulation, to compel the mortgagor to renew. (Lacon v. Mertins, 3 Atk. 1 & 4). But the mortgagee, independently of any special agreement, has a right to renew the lease himself, and to hold the lease as a security as well for the original principal and interest as for the monies expended in obtaining the renewal. (Lacon v. Mertins, ubi supra; Manlove v. Bale, 2 Vern. 84; Woolley v. Drag, 2 Anst. 551). And the rate of interest on the cost of renewal will be regulated by the rate of interest on the original principal. (Woolley v. Drag, 2 Anst. 551). There does not seem, therefore, to be much occasion for the introduction of the covenant permitting the mortgagee to renew and to charge the cost on the estate; and the ad valorem stamp-duty on the deed is necessarily increased by the insertion of that FREEHOLDS AND LEASE HOLDS. and that, on neglect by mortgagor, mortgagee may renew and hold as a security for the original debt and costs of renewal. Limitation of the amount of money to be secured. Proviso for As to the renewal of leases in mortgage. FREEHOLDS AND LEASE HOLDS. quiet enjoyment until default. and declared, and the true intent and meaning of them and of these presents nevertheless further is, that it shall be lawful for the said A. B., his heirs, executors, administrators, and assigns, peaceably and quietly to have, hold, occupy, possess, and enjoy the said hereditaments and premises herein before granted and released and assigned respectively, or expressed and intended so to be, and receive and take the rents, issues, and profits thereof to his and their own use, until default shall be made in payment of the said sum of £1,000 and interest, or some part thereof respectively, contrary to the true intent and meaning of these presents, without any let, suit, trouble, interruption, or disturbance whatsoever, of, from, or by the said G. H., his heirs, executors, administrators, or assigns, or any other person or persons whomsoever lawfully claiming or to claim. by, from, or under him, them, or any of them. IN WITNESS &c. covenant. Perhaps however, where, as in the case in the text, freeholds are mortgaged together with leaseholds, it might be considered, that in the absence of express agreement the leaseholds alone would be the security for the repayment of the expenses of renewal, and that therefore the provision in the text should be inserted. But there is not much ground for this apprehension. (See Coote on Mortgages, 2nd edit., pp. 472 & 647). The special power for the mortgagee to renew and hold the estate as a security for the expense, may perhaps be useful in preventing any question as to priority with subsequent incumbrancers; although, as a renewal is evidently for the advantage of all parties, the expense ought to be deemed a charge on the estate in preference to subsequent incumbrances. Of course, even if there be no stipulation as to renewal, if the mortgagee renew a lease, he will only hold it as mortgagee, and not as absolute owner. (Holt v. Holt, 1 Cha. Ca. 190; Rakestraw v. Brewer, Sel. Ca. in Ch. 55; Lee v. Vernon, 5 Bro. P. C. 10). As to the use and effect of the proviso limiting the amount to be secured, see supra, p. 523, n. (ễ). LX. MORTGAGE of COPYHOLDS (a). COPYHOLDS. THIS INDENTURE, made &c. BETWEEN A. B., of Parties. &c., [mortgagor], of the one part; and C. D., of &c., (a) Mortgages of copyholds are made by surrender, conditioned to be Mortgages of void on payment of the mortgage debt and interest at the time and in copyholds. manner specified, so that on payment of the money according to the condition, the surrenderor remains seised of his old estate. (Simonds v. Lawnd, Cro. Eliz. 239; see supra, p. 468, n. (i) ). The condition exactly corresponds to the ordinary proviso for re-conveyance of freeholds, so that the provisos in any of the foregoing precedents may be easily modified to suit mortgages of copyholds. The surrender is, however, always accompanied by a deed which contains the usual covenants for payment of the mortgage debt and interest, and for title. This was sometimes accomplished in former times by a bond, but in modern practice a deed of covenants is preferred. The comparative advantages of making the surrender precede or follow the deed of covenants are discussed supra, p. 305, and the variations annexed to the Precedent XXXIII. will suggest to the draftsman the alterations required when the surrender precedes the deed. It should be remembered, however, that in no case ought the money to be advanced till the surrender is actually made, (supra, p. 304, n. (a), and cases there cited). It is not usual for a mortgagee to be admitted, not only because a considerable expense for fines and fees would be incident to his admission, but because an actual resurrender to, and re-admission of the mortgagor with fresh fines and fees, would be necessary on paying off the mortgage. (See Benson v. Scott, 12 Mod. 49; Doe d. Harman v. Morgan, 7 T. R. 103). And if the mortgagee be actually admitted, he becomes liable to the payment of rents and heriots, and to the performance of the services, which is frequently undesirable. Till the admittance of the mortgagee the mortgagor remains tenant to the lord; (Doe d. Shewen v. Wroot, 5 East, 132; Kenebel v. Scrafton, 8 Ves. 30); and as well for the purposes of forfeiture and escheat as for other purposes. (The King v. Lady St. John Mildmay, 5 B. & Ad. 254; Attorney-General v. The Duke of Leeds, 2 My. & Ke. 343). But the lord's rights in the case of forfeiture and escheat are now qualified by the stat. 4 & 5 Will. 4, c. 23. The lord cannot compel the |